May 13, 1907.
Notwithstanding the diminished output, the discount rate has continued to fluctuate between seven per cent. and 12 per cent, on the small silver coins, while ou copper coins the rate has been nearer 20 per cent. Be it observed that this depreciation of the subsidiary coins does not affect only the Steamboat, Tramway and Ferry Companies, whose income from passenger traffic is mainly in subsidiary coins; it bears detrimentally on every trading con- cern in the Colony, for it results in the enhanced cost of living and the increased cost of labour. Consider for a moment how large a proportion of the Colony pays away subsidiary coins for commodities re- quired. The shopkeeper cannot afford to accept five twenty-cent pieces (actually worth little more than 90 cents) in payment of goods of the value of one silver dollar. He must protect himself by increasing his prices, and in turn the labourer is com pelled to demand more for his hire to enable him to meet his increased expenses. Hence a depreciated coinage becomes a tax on the trade and commerce of the Colony, and its extent may be gunged when it is stated that the Hongkong Cauton and Macao Steamboat Co. suffers a low of nearly 86,000 a month by exchange; the Lower Level Tramways Co. about $3,000 and the Star Ferry Co. about $1,000. The Govern ment itself is losing heavily on the depreciated coins which find their way to the 'Treasury and the Post Office tills, and it may incidentally be mentioned that, though subsidiary coins are legal tender in the Colony up to two dollars in silver and one in copper, it is a matter of common experience that the shroffs in these Govern- ment departments persistently try to bluff the unsuspecting payer who tenders sub- sidiary coin in excess of a dollar into giving them a silver dollar or a banknote, and when change is required from them they do not hesitate to unload on the customer, all the subsidiary coins possible--Chinese as well as British-regardless of the limit, unless the victim protests.
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CHÍNA OVERLAND TRADE REPORT. f
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301
iden of the amount of Hongkong subsidiary educate the young Chinaman, it is because coins still in circulation. As we have said, they desire to " convert him. They are, we forty million dollars (nominal) worth of submit, no more concɔrned for education these coins have been issued. Common itself than was Bishop Horster in 1795, report says that great quantities of them | who " did not know what the mass of the have gone into the melting pot of the people in any country had to do with the Chinese silversmiths at Canton and else laws but obey them." In England up to a where, and perhaps this may form the comparatively recent date the Church was main reason for the faith that is in many slow to heed the demand of the masses people that not one-fourth of the total issue for the teacher. It was not sure that would be forthcoming if the Government intelligence should be universal. When decided to call them in. But the prospect that demand became too strong to be of having to redeem at par even ten millions ignored, and the Church took it up, it was is sufficiently appalling to a Government with the intention primarily of which has no Redemption Fund. This trilling that techer. It popular educa- leads us up to the question whether the tion had to coma, it must be the Government, having regard to all the handmaid of dogma. The children circumstances, is morally bound to redeem of England were to be permitted to core of these coins than are necessary to learn in order that they might first of all meet the requirements of the inhabitants "read the Bible and the formularies of the of the Colony ? The subsidiary coins in Church. The purpose of all educational use in the Colony are estimated to be agencies was to Christianize; it was but an roughly about two million dollars wortù. incident that they also helped to educate.” If the Government can be persuaded that So it is in China to-day, where the cause it is justified in repudiating its currency of education is less threatened by Chinese which has been illegitimately withdrawn prejudices than by the foreign prejudices of from the Colony, the problem is very much the missionaries. There has beca less ustivo | simplified. The Government could then reaction in connection with the demand say: We will call in our subsidiary coins for foreign knowledge than in anything in the Colony within a few days, and we else, and what success the missionary will allow speculatora no time to scour the effort can boast has been chiefly due provinces of South China to collect for to this native demand for part of redemption all the Hongkong coins that what they bring, as was also the case may be found in circulation. No injustice, in Japan, where their artful pupils- it seems to us, would be done to the Chinese or patients, to adjust the
metaphor- people outside the Colony, for the Hong-swallowed the e lucational jam and spat out kong coins in their possession are to all the dogmatic pill. In China too, we have no intents and purposes native currency, doubt, it is the treacle they want, and not while their exchange value is rather more the brimstone. But that the missionaries than that of the coins issued from the Canton | merely offer the first to in lue the Chinese mint. The coins the Government withdraws | to swallow the second has been made from circulation in Hongkong would have apparent at the centenary conference at to be replaced by new coins of different Shanghai. Ose of the missionaries nsively design, and, to make illegal coining uu-admitted in a paper that their immediate remunerative, they would have to be pro- purpose is more easily pursued aming a portionally of the same " fineness' as the
superstitious multitude” than among “an dollar. Whether this is a feasible scheme agnostic, e lucated class.”: It was a sim·lac or not it is for the Government, with the recognition that made the church anaym. advice of its expert advisers, to decide and pathetic towards popular enlightenmat in as there seems no likelihood of values | England to begin
with; "t'ie more readjusting themselves it would ill be- We know, the I re We know We come the Government of this Colony to don't know." The forlorn hope of dogina neglect any longer to adopt whatever | is to control the fountains of ka ›wledge, to effective means lay in their power to doctor the food of babes and sucklings ; remove from the trade and commerce of the Colony the burdensome tax which | our depreciated subsidiary coinage has imposed.
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The Chinese Authorities, of course, must be making a "fine thing
out of this depreciation in the value of the subsidiary coinage, and it amounts to this: that the Colony of Hongkong under present condi- tions is being heavily taxed to the advantage and profit of the Government of Canton, This subsidiary coinage evil is as acute in the Colony now as it was twelve months ago, and if the Government is disinclined to act, and act promptly, on its own initiative | EDUCATION AND MISSIONARIES, in the matter, it is time some organised effort were made to impress upon the Executive the seriousness of the situation Confidence trick men, and other persons and the urgent need for adopting effective, who prey upon their fellows, require a remedial measures,
It is generally re-i succession cognised that the first step necessary victims, elec is their occupation gone, for towards restoring the Hongkong subsidiary coins to their nominal value is to make the uttering of Chinese coins in the Colony illegal and punishable. It may be ad- mitted that such a law would not be an easy one to enforce, but the Straits Settlements
able appear
to
measure of
46
1
(Daily Press, May10th.)
of new and
inexperienced
In
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a burnt child dreads the fire." beginning with this illustration, apropos missionaries and education, we do not want to suggest that there is a personal analogy, but only that the bad men and 'he good man share one requirement; they a constant supply depend for success on protect their coinage by a similar
of new material. We do not want for a prohibition, and though it may be more
moment to suggest that there is anything difficult here than there to stop the import in the missionary interest in education and circulation of foreign coin the task in China that suggests the confidence trick, is not an impossible one. With such a but we are going to try to show that it is law as this in force it has been suggested too much to say, as has been claimed, that that the Government could safely undertake
"the pioneer work in modernizing the to redeem its subsidiary coins at par, with. educational system of China entitles the out calling them in. Those who support missionary body to the fullest meed of this suggestion beliere that there would be honour." We say that they are not entitled no rush to the Treasury of persons wanting to claim or expect praise or honour, for to change their small coins for dollars. But their interest in education has been and is the Government cannot take chances of this directly a self interest their enthusiasm description while it is unable to form any for their own theological opinions. If they ❘
WAS &
and we have seen how tenaciously it can fight to hold this last trench. Ecclesinsti- cism is under notice to quit, however, im British schools; the German educational aystein apue it long ago; Francs is even more emancipated; 8ritze land pioneer of non-sectarian instruction American public instruction has been a model since it knocked that clog off the wheel; and Japan's case we have already mentioned. In Chius, fortunately, there is little prospect of the important work of education being so hampered. A repre sentative committee of missionaries is now considering how to get a Christian University establish din China, but even pro-missionary journals are against it.
The N.-C. Daily News says:
A Christian institution subsidised by a non- Christina Government in opposition to that Government's own non-Christian institution presents a palpable anomaly, opening the way for much bitterness and friction at the expense of both religion nad education. Not leas Hablə to misconception and dangerous to international harmony would be the creation of a University looking for its support entirely to formiga sources. Its presence weald be a pe humiliation to Chins.
Christian students are not debarred from
Chinese higher colleges and, provincial universities, we believe, so long as they are willing to heed the Confucian observances and to render unso Caesar the things that